Financing the Company. On or before March 31, 2007, Company shall raise at least Fifteen Million Dollars ($15,000,000) from investors which may include CytRx Corporation (the “Initial Financing”) or this Agreement automatically terminates, and Company shall pay University Seventy-Five Thousand Dollars ($75,000) due April 1, 2007 (payable only once under the Companion UMass License Agreements). However, if Company demonstrates to the reasonable satisfaction of University that, on March 31, 2007, investors are performing due diligence for, or, in the case of CytRx Corporation, is otherwise taking actions that are reasonably likely to result in, the financing of Company of at least $15,000,000, University grants Company a thirty (30) day extension from March 31, 2007, to fulfill the financing obligation set forth in this Subsection 3.1(a). If Company can demonstrate to the reasonable satisfaction of University that investors are performing due diligence for, or, in the case of CytRx Corporation, is otherwise taking actions that are reasonably likely to result in, the financing of Company of at least $15,000,000, Company shall be granted up to two additional thirty (30) day extensions to fulfill the financing obligation by paying to University Twenty-Five Thousand Dollars ($25,000) each on the last day of the previous extension. The extension fees are non-refundable but creditable to the upfront license fee.
Financing the Company. 2.1 The Company will be funded through the advance payment from private clients of the Business for the delivery of services. For the avoidance of any doubt, Shareholders will not be funding the company with public funds.
Financing the Company. Unless otherwise agreed by the Shareholders (with respect to Shareholders only) and save as expressly provided by this Agreement or as required by law, neither Shareholder nor the Escrow Agent is obliged to contribute to the working capital of the Company, whether by further subscription for shares or by loans or otherwise.
Financing the Company. 10.1 The Business and the business of each Indirect Investment Vehicle shall be financed initially by the proceeds of the Share subscriptions referred to in Schedule 3, together with funding provided pursuant to any Finance Agreements, provided that if the Company is required to make any additional payment under clause 3.3(a)(ii), 3.3(b)(ii), 3.6(a) or 3.6(c) or paragraph 7 of Schedule 6 of the Sale and Purchase Agreement, then the Shareholders shall fund such additional payment by way of a subscription for additional Shares in accordance with this clause 10.
Financing the Company. University acknowledges that Company is a public company. Company shall maintain adequate financial resources to fulfill its diligence obligations under this Agreement.
Financing the Company. C. On and from the date of execution of this Amendment, Section 6.1 of the Shareholders Agreement shall be amended to read and shall stand in its entirety as follows:
Financing the Company. 5.1 The parties envisage that the initial working capital of the Company shall be made up of either equity subscribed by the Holding Company or loans made to it by Harrow Council.
Financing the Company. Section 7.1 Funding of Costs. 17 Section 7.2 Future Financings and Pre-emptive Rights. 17
Financing the Company. The Company (and any other Group Company through the Company) shall be financed:
Financing the Company. 11.1 Interest rate determined by Company Any loan made by the Company to a Shareholder will bear interest at such rate as determined by the Company in its absolute discretion and must be approved by a majority of the Board.
